Some of White Wolf's "over 60 points of similarity" are interesting (White Wolf's developing a video game called "Vampire: Bloodlines," based on the Half-Life engine, "Underworld" has an upcoming video-game spin-off called "Underworld: Bloodlines," based on the Half-Life engine), some seem a little weak (the White Wolf mythos includes a female assassin character who pisses off her sire, "Underworld" includes a female assassin character who pisses off her sire), and some are just weird. (In White Wolf mythology, wooden stakes don't kill vampires. In "Underworld," wooden stakes don't kill vampires. Theft! Theft!)
Also, the complaint details what White Wolf and Collins want from the deal: Three times the profits from "Underworld" and sales of any related materials, an injunction against the movie and video-game releases, control of all copies of both to pass to White Wolf, plus incidental damages. Yow.
Personally, I still want to see the movie, and I won't really feel capable of judging the suit's merits for myself unless I do. But I'm actually wondering whether this is less about the movie than about quashing the "Underworld" video game, which, with a similar name and a more high-profile, mainstream tie-in, could seriously cut into White Wolf's sales.